Snap jumps after revealing plans to lay off ~16% of its workforce, new guidance sees Q1 revenue up ~12% year on year
jumped as much as 10% in premarket trading on Wednesday after the social media company announced that it may cut about 1,000 roles, or roughly 16% of its full-time employees, in an attempt to improve ...
Amid engagement downturn, Epic Games reportedly planning first game with Disney for November launch
“Fortnite” maker Epic Games, struggling through an engagement downturn that led the company to lay off 1,000 employees last month, is leaning into its partnership to turn things around. Per a report ...
Bezos poaches xAI cofounder from OpenAI for his Project Prometheus startup
The competition among AI startups for poaching top talent has a new contender. The Financial Times reports that xAI cofounder Kyle Kosic has been poached from OpenAI by founder Jeff Bezos for his new...
OpenAI’s plan for an AGI world: AI for all and a 4-day workweek
OpenAI has published a policy paper titled “Industrial Policy for the Intelligence Age,” which lays out a list of proposals that would radically shift how our economy works. It also calls for mitigati...
US job growth crushes estimates in March, with the unemployment rate unexpectedly dipping to 4.3%
US hiring surged in March, with job growth of 178,000 well ahead of estimates while the unemployment rate unexpectedly edged down to 4.3%. Economists had anticipated non-farm payrolls growth of 65,000...
Almost three-quarters of US workers think now’s a bad time to find a quality job
The “great resignation,” when millions of Americans quit their jobs during Covid in pursuit of greener pastures, now feels very long ago. Indeed, confidence in the job market has sunk in recent years...
Wall Street bonuses hit a new record last year, edging toward $250,000 average
2025 was a pretty good year for US stocks... and new data suggests it was an even better one for workers on Wall Street itself. In a year that saw pretax profits on the Street rise more than 30% to a ...
“Fortnite” maker Epic is laying off 1,000 employees amid engagement downturn
“Fortnite” creator Epic Games on Tuesday announced that it’s cutting 1,000 jobs across the company as engagement slows down. Per the company’s note to employees: “The downturn in Fortnite engagement t...
Meta’s reported 20% layoff could bring headcount to its lowest level since 2021
is rising Monday morning after Reuters reported the tech giant is planning to lay off 20% of its employees in an effort to use AI to make its workforce more efficient and offset its surging AI capex c...
With federal jobs at a 60-year low, the US government looks to grow its workforce again
To some Americans, it might feel like a lifetime since the DOGE era — when Elon Musk and Vivek Ramaswamy were called upon in late 2024 to make the US government more efficient through cutting federal ...
US employment unexpectedly contracts in February, unemployment rate rises to 4.4%
The US job market just posted a big negative surprise in February: Nonfarm payrolls growth of -92,000 (estimate: +55,000). An unemployment rate of 4.4% (estimate: 4.3%). Employment growth for the prio...
Dorsey swings the axe at Block in “extreme step” to “replace human labor with compute power”
The market clearly loves it. Jack Dorsey’s decision to axe some 4,000 workers has kicked off what is on track to be best day in the stock market in over three years. The takeaways from analysts who h...
Block soars after announcing 40% workforce cut amid AI push
, the payments and fintech firm led by Twitter cofounder Jack Dorsey, is up almost 20% in premarket trading after announcing plans yesterday to cut 40% of its 10,000-person workforce. Alongside the la...
Better-than-expected jobs data has Federal Reserve’s standout doves shying away from rate cuts
Surprisingly strong labor market data has the Federal Reserve’s standout doves more willing to stand down from advocating for additional rate cuts. Governor Christopher Waller said his decision on whe...
Microsoft makes dramatic shake-up to its gaming division as gaming CEO Phil Spencer and Xbox President Sarah Bond depart
gaming division underwent a major shake-up on Friday, as the tech giant announced the departure of gaming CEO Phil Spencer, who led the division for 12 years and championed its Game Pass subscription ...
Lucid cuts 12% of its US workforce in a profitability push
EV maker announced on Friday it is laying off 12% of its US workforce as part of its efforts to improve profitability. This is Lucid’s third round of layoffs since March 2023. At the end of 2024, the...
Younger companies and leaders embrace more remote work, new study finds
The companies most likely to let you work from home are the newest ones… or at least those helmed by the youngest leaders. According to a National Bureau of Economic Research working paper published l...
Massive AI expenses will start coming back to roost soon. Analysts say tech workers should be worried.
The vibes should have been good. fourth-quarter numbers had just trounced expectations . Revenue hit an all-time high. The stock price was ripping after-hours. But as longtime tech analyst Laura Marti...
A former karaoke machine company has obliterated billions of dollars in trucking market cap
Trucking industry stocks are getting gutted on Thursday, with shares of freight companies like and sinking by double digits. Fears that AI will disrupt the freight forwarding and brokerage industry ...
Americans are spending more of the workday sitting — the jobs driving the trend often come with more money
Standing desks may have become a workplace staple, but Americans are spending more time seated at work than at any point in nearly a decade, according to new federal labor data — and that might be a g...